Making Money From Investments Through The Kampung Way - Kampung Investor Dot Com

Let me share a product which i personally subscribed where we can save another 7% on our petrol in Malaysia.

As we know, the government had dropped the petrol price till RM 2.55 from a super hike of RM 2.70 per liter.

My friend came across a product by Standard Chartered and he shared with me and i think it’s best for me to share with all off you out there as we can save an extra 7% on petrol.

Yeah, i mean it! Another 7% discount with acceptable terms and conditions. This product is by Standard Chartered and it’s called the e$aver Account.

Basically the e$aver account is like a normal savings account by Standard Chartered. There is no minimum in opening this account.

Besides having the savings account, you will be issued a Debit Master Card where we can use to swipe at petrol kiosk to redeem our 7% petrol rebate. Might sound crazy, but it’s really at 7% discount.

Standard Chartered Debit Master Card

The terms that we need to adhere for this 7% petrol discount :-

• We need to have money in our e$aver account. It is a debit card not a credit card.
• For every transaction, Standard Chartered will lien RM 200 from our e$aver account (Will explain further)

When i was at the counter opening my account with my fren, the officer kept on telling on there is a ‘lein’ of RM 200. I kept wondering, what on earth is that lien? He pronounced the word lien like lend. Really make me confuse.

After asking further i finally understand what he really means.

Opening a RM 500 e$aver account with Standard Chartered and pump a RM 100 worth or petrol :-

RM 500 - RM 200 = RM 300 (Lien RM 200)

One my think, why i used RM 200 instead of RM 100? The RM 200 is a lien by Standard Chartered to your e$aver account. Every transaction will be deducted with RM 200 lien.

Not to worry as this lien of RM 200 is taken from you until the transaction is completed which takes around 1 week. Once it’s completed the balance RM 100 will be send back to your account.

The 7% Petrol rebate will be credited to your account every end of the month.

Opening a RM 300 into e$aver account and pump RM 100 worth of petrol :-

RM 300 - RM 200 = RM 100 (Balance in e$aver account)

For instance you make another petrol pump worth RM 50 the next day, your card will show error because of insufficient balance in your account. As per transaction, minimum must have RM 200 balance for the lein.

Advantages of Standard Chartered e$aver Account :-

• 7% Petrol Rebate
• 2.5% per annum interest rate with daily interest
• No minimum deposit for opening an e$aver account

Disadvantages of Standard Chartered e$aver Account :-

• RM 200 lien (Personally still ok for me)
• RM 8 annual fee for the Debit Master Card charge
• Valid from 7th July to 31st December 2008

Although until end of the year only, but for those heavy petrol user it’s still worth while. 7% man is a lot! My advice just put in RM 1000 into your e$aver account and be rest assured you won’t have error while pumping petrol at the kiosk. Unless la you are the super duper heavy petrol user.

Enjoy the 7% discount ya! Oh yeah, not too forget my 5 Savvy Ways to Combat Petrol Hike in Malaysia …

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